Indian ride-hailing startup Rapido is reportedly set to raise Rs 125 crore as part of its Series E funding round. This move highlights a revival in investor interest for the country’s mobility tech sector, especially in two-wheeler transportation.
About Rapido
Founded in 2015, Rapido has become a major player in India’s bike-taxi segment. Operating in over 100 cities, the platform offers affordable last-mile transportation through bike rides, auto-rickshaws, and even cab services. The company competes with giants like Ola and Uber by focusing on low-cost and hyper-local commutes.
Who Is Investing?
The Rs 125 crore funding is reportedly being led by existing investors, possibly including WestBridge Capital, Nexus Venture Partners, and Shell Ventures. This new investment aims to strengthen Rapido’s technology, expand services to tier-2 and tier-3 cities, and enhance driver-partner support.
Growth Strategy
Rapido plans to use the Series E funding to:
- Improve app functionality and user experience
- Expand into underserved regions
- Build stronger fleet partnerships
- Push further into the electric vehicle (EV) segment
With this funding, Rapido seeks to grow its user base and increase daily ride volumes.
Market Outlook
India’s mobility sector is bouncing back after pandemic-induced slowdowns. With rising urban congestion and demand for affordable transport, two-wheeler and shared mobility services are regaining momentum. Rapido’s focus on short-distance commutes and driver affordability aligns with these trends.
Conclusion
Rapido’s Rs 125 crore Series E funding is a positive signal for the ride-hailing market in India. As the company expands and innovates, it aims to carve out a larger share in the competitive mobility space.
